Answer:The bank statement shows a balance of $4250, deposits in transit total $1200, and outstanding checks that equal $300. The check registar balance should be 4150
Step-by-step explanation:
The purpose of bank reconciliation is to ensure that the balances in the bank statement and the check register are accurate and in agreement. This helps identify any discrepancies or errors in the recorded transactions.
Bank reconciliation is the process of comparing and matching the balances in the bank statement with the balances in the check register. The purpose of bank reconciliation is to identify any discrepancies or errors in recorded transactions. By doing so, it ensures that the balances are accurate and in agreement, providing a clear and reliable financial picture for the business or individual.